I had earlier posted on Zenotech Labs laying down the original premise of the trade in a post here.
After much delay the supreme court judgement came and the court ruled in the favour of Daichhi and the minority shareholders lost the case. The open offer will now happen at Rs 113.6. The stock promptly corrected to the Rs 100 mark where I exited my position taking a loss of about 10-12% on the trade.
A bitter pill to swallow but the downside was factored in the trade in case the judgement came in favour Daiichi.
The stock has subsequently moved down to the Rs 94 level and at some point of time will start becoming attractive considering the high acceptance ratio on the open offer.